Study: Economic losses from Arctic melting could total $60 trillion

Friday

Jul 26, 2013 at 11:10 AM

Unsettling news HERE:

Rapid thawing of the Arctic could trigger a catastrophic “economic timebomb” which would cost trillions of dollars and undermine the global financial system, say a group of economists and polar scientists.

Governments and industry have expected the widespread warming of the Arctic region in the past 20 years to be an economic boon, allowing the exploitation of new gas and oilfields and enabling shipping to travel faster between Europe and Asia. But the release of a single giant “pulse” of methane from thawing Arctic permafrost beneath the East Siberian sea “could come with a $60tn [£39tn] ...

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Pat Cunningham

Unsettling news HERE:

Rapid thawing of the Arctic could trigger a catastrophic “economic timebomb” which would cost trillions of dollars and undermine the global financial system, say a group of economists and polar scientists.

Governments and industry have expected the widespread warming of the Arctic region in the past 20 years to be an economic boon, allowing the exploitation of new gas and oilfields and enabling shipping to travel faster between Europe and Asia. But the release of a single giant “pulse” of methane from thawing Arctic permafrost beneath the East Siberian sea “could come with a $60tn [£39tn] ...

Read more

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